** Shares of Chinese technology company Tencent Holdings

rise as much as 2.8% to HK$415, on course for the biggest one-day pct gain since Nov. 1, after posting higher quarterly revenue

** Stock is the third-biggest gainer in Hang Seng Index

and fifth-biggest in Hang Seng Tech Index , which decline 0.6% and 1.1%, respectively

** Tencent posted on Wednesday an 8% rise in third-quarter revenue, extending momentum in its gaming business

** Jefferies maintains "Buy" on the stock and raises price target to HK$543 from HK$540, saying Tencent gains market share through ad tech upgrade and margin expansion story is intact

** Citi keeps "Buy" rating, saying Tencent reported solid 3Q24 with total revs came inline

** Nomura also maintains "Buy", saying Tencent revenue in line with profit beat on non-operating items

** Hang Seng Commerce & Industry Index slips 0.9%

** Tencent stock up 38.9% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))